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Macmahon Holdings Limited ( (AU:MAH) ) has shared an update.
Macmahon Holdings Limited has signed a Letter of Intent with Wolfram Limited, a subsidiary of Bumi Resources, to restart mining operations at the Mount Carlton Gold Mine in North Queensland. The scope covers surface and underground mining and civil infrastructure services, with the parties negotiating a contract expected to run for an initial 33 months.
Early works such as repairing and maintaining the mine access road are already underway, with surface mining targeted to restart in April 2026 and underground operations to follow. The planned contract is valued at about $250 million, requires no additional FY26 capital from Macmahon, and leaves the company’s FY26 guidance unchanged, underlining the strategic importance of Mount Carlton while reinforcing Macmahon’s position as a provider of integrated whole-of-mine solutions.
The most recent analyst rating on (AU:MAH) stock is a Hold with a A$0.81 price target. To see the full list of analyst forecasts on Macmahon Holdings Limited stock, see the AU:MAH Stock Forecast page.
More about Macmahon Holdings Limited
Macmahon Holdings Limited is an ASX-listed contractor providing a full suite of mining and civil infrastructure services across Australia and Southeast Asia. The company specialises in surface and underground mining, as well as civil works, positioning itself as a contractor of choice for resources, non-resources, public infrastructure and renewables projects in diverse locations and sectors.
Macmahon emphasises building strong, transparent client relationships that aim for mutually beneficial outcomes while minimising risk. Its integrated capabilities allow it to deliver comprehensive, whole-of-mine solutions, combining mining and civil expertise to support large-scale operational restarts and developments for major resource owners.
YTD Price Performance: -3.82%
Average Trading Volume: 7,428,426
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$1.32B
See more insights into MAH stock on TipRanks’ Stock Analysis page.